Gaming platform Yudiz Solutions receives go-ahead for SME IPO
Yudiz Solutions aims to become the first publicly-listed game developer with its own publishing platform, offering games for multiple platforms.
Yudiz Solutions Ltd, an enterprise technology company specialising in blockchain, AI, and gaming, has received approval from the National Stock Exchange (NSE) for an SME Initial Public Offering (IPO).
The Ahmedabad-based technology service provider is looking to invest approximately Rs 8 crore to establish a state-of-the-art gaming studio and a multi-gaming platform. The company plans to issue 27,17,600 equity shares, according to its recently approved DRHP.
In addition to producing its own games, will also develop games for other publishers and open its publishing platform to external developers. The goal is to create over 40 games annually with its new gaming studio.
"The new business ventures will drive sectoral growth, empower us to fuel innovation, expand our game portfolio, enhance the gaming experience, and cultivate gamer communities," said Bharat Patel, Chairman and Director of Yudiz Solutions. "They will also facilitate strategic partnerships, attract top talent, and solidify our position as formidable contenders in this space."
Yudiz Solutions reported an EBITDA of 21.77% for FY23. Notably, Yudiz Solutions recorded a PAT of Rs 2.75 crore in the fiscal year ended March 31, 2023.
The gaming company works in AI/ML, AR/VR, IoT, blockchain, mobile app development, and web development across North America, Europe, and Asia. The company's client roster includes MPL, Zydus, RR Kabel, IRM Energy, and SportsBuzz, among others.
Edited by Kanishk Singh